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Face to face: Mike McAuley, BNY Mellon
04 October 2011
Mike McAuley is BNY Mellon’s senior business strategist and doubles as the chair of the RMA’s committee on securities lending, a position which gives him a bird’s eye view of the securities lending market. Aaron Woolner reports
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Mike McAuley
BNY Mellon
RMA
How optimistic are you about the future of securities lending?I’m very optimistic. The industry is going through a period of change and some of those changes will be beneficial. Securities lending is here to stay and, as many of the regulators have noted, it’s necessary for the proper functioning of our capital markets. I think it definitely has a bright future.What may cause future problems?The biggest challenge we face right now is regulation. The challenge is the speed and volume of the regulatory change that is occurring globally – not just here in the US. We have to be aware of what is going on and comment on as much of it as we can to make sure that there are not any unintended consequences that have a negative impact on securities lending.Have you seen these unintended consequences anywhere already?A lot of the regulation that’s out there is yet to...
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